Disposition of a Group of Assets - basis allocation
Answer:
If you sell a group of assets that make up a trade or business and the buyer's basis in those assets are determined wholly by the amount paid for the assets, both the seller and buyer must allocate the total sales price to the assets transferred.
Form 8594 Asset Acquisition Statement should also be filed with the IRS.
Form 8594 Asset Acquisition Statement should also be filed with the IRS.
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